Is your institution on track to implement recent accounting standards updates?
Each year, the financial accounting standards board (FASB) usually has a number of accounting standards updates it releases. Are you aware of the updates released this year?
In most years, the financial accounting standards board (FASB) releases at least a dozen updates to the accounting standards. Many are narrow in scope, but some may require significant resources to implement. Below, we've highlighted some of the updates we believe will have an impact on financial institutions, along with a timeline showing when calendar year-end institutions will adopt each update.